CNI Micro Finance Group by Erica King
One hundred twenty-five men and women recently released from the Illinois Department of Corrections (IDOC) will be given a real chance to transform their lives thanks to an innovative new program forged by a dynamic public/private partnership fueled by CNIMFG with support from Citi Community Development. The program will provide training and start-up capital to help returning citizens open a business and create jobs and economic opportunities for themselves and underserved Chicago communities. Studies show that only 17.5% of returning prisoners who find regular employment, or create jobs for themselves, return to prison.
Erica King, VP Lending, CNIMFG, recently joined Governor Bruce Rauner and other state officials to launch the Pathway to Enterprise for Returning Citizens (PERC), the new privately funded program designed to provide recently incarcerated citizens with in-depth training, personal coaching and mentoring from its program partners: Bethel New Life, Chatham Business Association, North Lawndale Employment Network, The Safer Foundation and Sunshine Enterprises. Once the training is successfully completed, participants will be eligible to receive up to $50,000 in start-up capital from CNIMFG to open a business.
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PERC's partners include the Illinois Criminal Justice Authority, IDOC, the Illinois Department of Commerce and Economic Opportunity and CNIMFG. More than $1 million was raised to fund the program from Citi Community Development, The Chicago Community Trust, the Perry Family Foundation, US Bank Foundation and the Hughes Foundation.
For additional information about PERC or CNIMFG's micro-lending products and financial services, contact Erica King, Vice President of Lending, CNIMFG, firstname.lastname@example.org or 773.341.2072.
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